Table 11

The 1990–1993 immigrant cohort has reduced deficits by trillions

Taxes paid by, benefits received by, and net interest saved for immigrants who entered between 1990 and 1993

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Sources: Calculations are based primarily on the Annual Social and Economic Supplements of the US Census Bureau’s Current Population Survey for March 1994–2023; and “National Data: National Income and Product Accounts,” Bureau of Economic Analysis, last revised September 2025. See Appendix for full details.

Note: All amounts are in inflation-adjusted 2024 dollars.